Notes

Farnoush Farsiar: Why are there so few women in finance?
Women are breaking through the barriers to achieve amazing success in a range of industries. Unfortunately, the shocking reality is that only a tiny percentage of women work in finance. It's not likely to change, unfortunately.

https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf Deloitte's research shows that only 31 percent of financial workers will be female in 2030. This begs a one-of-a-kind question: Why are there so little women working in finance? There are many theories on the internet however we wanted to get an opinion from an expert on the subject. Farnoush Farnoush an accomplished finance professional who is devoted to women's empowerment was the reason we interviewed her.

How many women work in Finance?

The U.S. is home to 57% of the workforce. However, they only hold 24% of the financial positions. That's is projected to expand to 28% in the next 10 years increasing from 24% in 2021 - but still far short of parity..

Diverseness isn't only a problem faced by women. Farnoush Farsiar has said that it's a serious issue for the world of business. Farsiar claimed that leadership teams that have different perspectives perform better than those with no. "So it's not just crucial for females to be included in these positions; it's also critical for the nation as a whole."

There are many reasons why women are not represented in the financial industry. One theory suggests that the financial industry is too male-dominated and competitive for women to enter. Another theory is that women are not encouraged by their parents to pursue careers in finance.

Farsiar believes that women's socialization from an early age is at the root of the issue. Farnoush Farsiar Women are taught to take care of their children and be responsible for their security. "We are taught not to take risks, but to be safe. This isn't a good way to go about an occupation as an analyst of financials.

Women are taught not just to care for other people but also to be pleasing to people. Farsiar said women were taught to behave politely. "But in the field of finance, you need to be able to advocate for your thoughts. You must be able advocate for your own ideas."

Farsiar - Where are all the women in finance and accounting?
Women are particularly underrepresented in finance at top levels. A 2016-2017 study done by Pew research discovered that women make up just 10% of the executive roles. Women are the holders of 11.5 percent of the financial company board seats.

This inequality has real-world effects on women working in finance. This is because women are more likely not to get promoted than male counterparts, and are more likely to quit the field.

The good news is that women are steadily but surely rising in senior posts. Farnoush Farsiar believes the reason for this growth is because of the #womenshould movement that has raised awareness of the issue of diversity. Farnoush Farsiar Farsiar claimed she is "convinced" that the #MeToo Movement also has had a huge impact. Women are starting to hear their voice and demand change."

There are hurdles for women being able to enter finance
There are many obstacles that women must overcome to be successful in financial services. https://www.abcmoney.co.uk/2022/08/30/farnoush-farsiar-on-building-a-women-lead-business-in-dubai/ Lack of role models is among of the biggest obstacles to women getting into finance. Women working in finance are usually the only female within their field and this can make them feel isolated.

Farsiar explained that being the only woman in a room could be quite intimidating. "You are under pressure to be perfect and must not make any mistakes.

Another barrier is the "old boys"club" mentality that still exists in a lot of finance companies. This is the belief that men promote other women and women are left out.

Farnoush Farsiar Farsiar admits "there's lots of truth to that," he says. "I experienced it myself. Men will encourage other men even if women are more qualified.

This old boys' mentality could lead to to discrimination and harassment of women. Male colleagues in finance often make sexist remarks towards women, and also make inappropriate advances to.

"It's certainly a problem," Farnoush Farsiar exclaims. "Women working in finance are typically considered commodities, making it extremely difficult for them to achieve success."

https://www.trackometrix.com/farnoush-farsiar-why-are-so-few-women-in-finance-2/ The final barrier is the lack of flexible working hours. Women are more likely than men to be entrusted with household responsibilities, like caring for elderly or children parents. Flexible working schedules are required to allow them to manage work and family.

"Finance has a high-stakes industry. It is challenging to balance your work and family obligations when you're also working in finance. Women often are being forced to choose between family and work.

These obstacles make it extremely difficult for women in the financial sector to attain the top positions. But, there are many initiatives being implemented to change this.

Farnoush Farsiar believes that the future is bright for women working in finance
There are good reasons to believe that women will continue to be employed in the field of financial services. There have been numerous initiatives launched to boost their numbers and get to the highest levels of the financial sector.

One of these initiatives is Women Entrepreneurs Finance Initiative (WeFi) It is a collaboration between the World Bank Group & 14 governments. Farnoush Farsiar We-Fi offers financing and support for women-owned enterprises in the developing countries.

Farsiar said, "This program is a great one because it gives women access and the resources to begin and expand their companies." "It also helps them build networks and connect to other women who have succeeded."

The Women in Finance Charter was another initiative that the U.K. government launched in the year 2016. The Women in Finance Charter represents a commitment made by financial companies to promote gender diversity.

Farsiar lauds "The Women in Finance Charter as a significant step in the right direction." "It is encouraging financial institutions to take action in the direction of gender diversity, and it is making a difference."

Through initiatives such as We-Fi as well as the Women in Finance Charter, women are more likely to be accepted into and reach senior positions. This is good news for both women and the financial industry.



Here's my website: https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/